EUR/USD: 8/8 MM Level going to act as resistance

12:10 19.05.2017

The price is still rising, so bulls are likely going to test 8/8 MM Level in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a bearish wave (i). In this case, we should keep an eye on 6/8 MM Level as an intraday target.

We've just got a new local high. Previously, the price couldn't fixate under 6/8 MM Level. Therefore, wave v of (c) is likely going to be continued towards 8/8 MM Level, which could be a departure point for wave i of (i).

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